Cancerous Capitalism and How to Cure It (Interview with John McMurtry)

Posted by on February 5, 2013 in Economy with 2 Comments
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Abby Martin talks to John McMurtry, University of Guelph professor and author of  The Cancer Stage of Capitalism, about capitalism as the source of social inequality and the root cause of most social ills.

In The Cancer Stage of Capitalism, McMurtry uses the metaphor of modern capitalism as a cancer. Its invasive growth, he argues, threatens to break down our society’s immune system and–if not soon restrained–could reverse all the progress that has been made toward social equity and stability. On every continent, in every state, there are indicators of profound economic and environmental collapse. From the lands of indigenous communities to the currency markets of Asia, from the ocean floors to the ozone layer, the collapse is all-encompassing and deep-reaching. McMurtry traces the causes of this global disorder back to the mutating assumptions of market theory that now govern the world’s economy.

Abby Martin: How do we cure the cancer?  … Is it too late?

John McMurtry: No, it isn’t too late… First of all, we require a public banking system, which we’ve had before.  By the way, that is why China succeeds so well.

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  1.' Greg says:

    There is optimism and then there is delusional. Any scientist in this field (and I mean scientist not economist) will tell you we have long over shot our sustainable levels. By long I mean 6 Billion people ago. Our entire capitalist industrial civilisation is based on finite resources. Without which it all ceases to exist and that includes the 6 Billion odd increase in population that occurred as a direct result of this binge. I have analysed this in detail and I have come to one sobering conclusion (other than capitalism will ultimately destroy this planet). Unless approx 6 Billion people die off really soon from some sort of global pandemic we will become extinct very soon, within 20 to 30 years. It sounds insane until you sit down and really look at the numbers and assess the magnitude of the problem. If this doesn’t happen not only will we become extinct but most life on earth will.

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